Part V MISCELLANEOUS AND GENERAL
Miscellaneous
121 Pools payments to support games etc.
(1)
This section applies to any payment which, in consequence of the reduction in pool betting duty effected by section 5 above, is made—
(a)
by a person liable to pay that duty, and
(b)
to trustees established mainly for the support of athletic sports or athletic games but with power to support the arts.
F1(2)
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F2(3)
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(4)
Where a payment to which this section applies is made, the sum received by the trustees and any assets representing it (but not any income or gains arising from them) shall not be relevant property for the purposes of Chapter III of Part III of the M1Inheritance Tax Act 1984.